First of all, I would like to again congratulate all the contestants on making it to the finals in November. Good Luck to all and go Crashers!!
The idea I entered the Next Top Credit Union Executive contest with was to create a loan program designed to help a select number of members. It would be tailored to those who have struggled with their credit as a result of these tough economic times and are ready to get back on their feet. The idea is to give a set number of members a second chance to prove their credit character. The loan program would be called The Second Chance Loan. As many members of credit unions face or have faced financial hardships over the years, we know how difficult it has been to get qualified for loans. Here’s a short video I made about it:
Layoffs, salary cuts, and overall cutbacks have not only been hard on all of our members, it has also been hard on the overall economy. As a direct result of these challenges, it has been even harder for credit unions to lend money to these individuals who are steadily getting back on their feet. I believe that there is a way we can better serve these members when it comes to loans and the lending process.
After sharing the idea for the NTCUE competition, my idea was recognized within my credit union and I was asked to share the idea with Senior Level Management. A few months of sweat and determination to see this idea flourish has paid off. I sent a proposal just a few weeks ago to Senior Management for consideration to bring the idea to fruition at Suncoast Schools Federal Credit Union.
As I patiently wait for feedback, I just wanted to thank you all for your support throughout the NTCUE competition – it helped to drive me to continue moving on the idea! Cross your fingers until you hear good news from me again!